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Again, from Ben Rabidoux: http://www.torontorealtyblog.com/archives/game-of-thro-wing-your-money-away/10931 quote:I’ve been saying this since 2008.
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# ? Sep 16, 2014 17:10 |
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# ? May 21, 2024 16:37 |
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http://www.bankofcanada.ca/2014/09/float-of-the-loonie/ Poloz speech on the role of the boc, interest rates, CAD exchange rates. Tldr, boc wants the market to figure out the exchange rate. The boc is only interested in targeting a stable inflation rate through short term interest rates. Neo liberal zone
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# ? Sep 16, 2014 17:55 |
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Cultural Imperial posted:Depending on how annoyed I am with work, I'll gently caress with linked in and recruiters and do interviews for fun. I encourage all of you to do it because it's good practice for interviewing for jobs you really want. I went through a series of interviews with Amazon and asked the sperg point blank, why they're setting up shop in Vancouver. The answer I got, and I had to work hard to stifle my laughter, was that they thought there was a lot of untapped talent in Vancouver. This is one of my favorite things to do as given the budgets I work with and the material companies would love me if I would leave the government. Sadly interviews grind to a halt when I ask for matching vacation. Sadly some companies learn about this after a while and won't do interviews with us unless we have already left the government.
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# ? Sep 16, 2014 18:07 |
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sbaldrick posted:This is one of my favorite things to do as given the budgets I work with and the material companies would love me if I would leave the government. Sadly interviews grind to a halt when I ask for matching vacation. Sadly some companies learn about this after a while and won't do interviews with us unless we have already left the government. Yeah another reason to consider Europe for people with dual nationality. In the EU, four weeks plus statutory is the minimum required by law, and most people get more. North America has some pretty weird ideas about vacation. You'd really think that it would be to the company's benefit to have employees happier and more productive albeit at work for a week or two less per year.
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# ? Sep 16, 2014 18:19 |
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Vacations, education, health care, basic human rights, those are all considered luxuries one must earn in our society. Even basic shelter is something reserved for those the market deems worthy.
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# ? Sep 16, 2014 18:22 |
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Baronjutter posted:Vacations, education, health care, basic human rights, those are all considered luxuries one must earn in our society. Even basic shelter is something reserved for those the market deems worthy. That is why renters are subhuman scum.
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# ? Sep 16, 2014 18:26 |
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God this is infuriating, trying to talk about housing policy with these condo "boosters" or whatever they're called. Apparently all housing price issues are the fault of government and Nimby's restricting demand. Supply and demand. That and over-regulation. If we let developers built 30 story towers in Victoria full of 300 sqft micro units that could sell for under 150k that would solve the problem. The problem being that not everyone can afford a condo. Rentals? Those are useless because you don't build equity. Government and the city need to focus and do more to allow more people to own, specially at the low end. You see housing is the best and biggest investment anyone will ever have, it's how families grow their fortunes from generation to generation. Poor people are poor because they are forced to throw all their money away on rents. If we allowed more micro condos, all these poor renters could buy, and thus built equity, and thus move up the economic ladder. Tiny condos will both solve the housing problem and poverty problem. We should even have subsidies to help very poor people own something, or rent to own. But basically renting is a poverty trap and anyone serious about helping Victoria and the economy should be focusing on making sure everyone can own something and stop renting. Also condos and houses are great investments because you can always rent them out to idiots who don't understand finances. Any time I hint that maybe housing isn't the best investment, and maybe renting isn't throwing your money away I'm instantly dismissed as "sky is falling conspiracy theorist" and probably just jealous of owners and owners need idiots like me to pay their mortgages for them. If anyone wants a good time just read the vibrantvictoria.ca forums. It's not a horrible site, it's basically the only place to get Victoria related construction news and not everyone is horrible, but it slants hard libertarian and drinks buckets of developer marketing coolaid.
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# ? Sep 16, 2014 18:37 |
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Lead out in cuffs posted:Yeah another reason to consider Europe for people with dual nationality. In the EU, four weeks plus statutory is the minimum required by law, and most people get more. The company that won't interview us anymore has a great vacation policy and won't give us a matching start because it would be unfair to other employees, I've had this conversation with their HR before.
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# ? Sep 16, 2014 18:58 |
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Lead out in cuffs posted:Yeah another reason to consider Europe for people with dual nationality. In the EU, four weeks plus statutory is the minimum required by law, and most people get more. It stems from being a continent which was built on the backs of slave labor, and that attitude being prevalent a century later (and indeed is actively ingrained in our culture by the media). We also have yet to rise up and kill off our ruling class a few times in pursuit of equitable treatment for all.
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# ? Sep 16, 2014 19:07 |
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http://m.theglobeandmail.com/report-on-business/td-banks-outgoing-ceo-urges-tighter-canada-lending-rules/article20618548/?service=mobilequote:The Canadian government should tighten lending rules further to discourage consumers from taking on too much debt in an environment of low interest rates, the outgoing chief executive of Toronto-Dominion Bank said on Tuesday. quote:
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# ? Sep 16, 2014 19:15 |
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Cultural Imperial posted:http://m.theglobeandmail.com/report-on-business/td-banks-outgoing-ceo-urges-tighter-canada-lending-rules/article20618548/?service=mobile It says a lot about the industry that he waited until he was "outgoing" to say this
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# ? Sep 16, 2014 20:06 |
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Wasting posted:It says a lot about the industry that he waited until he was "outgoing" to say this Nah, it's not the first time clark has said this.
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# ? Sep 16, 2014 20:08 |
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melon cat fucked around with this message at 04:14 on Mar 16, 2019 |
# ? Sep 16, 2014 21:19 |
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OK, you need to explain to me how you think an interest rate increase is going to be compelled by harper at the convenience of his election strategy. Not saying you're wrong but I admit to be naive about the boc's independence.
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# ? Sep 16, 2014 21:40 |
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This farm's down $36,000 in the last 40 days. ronpaulitshappening.gif
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# ? Sep 16, 2014 21:43 |
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A crash won't happen in Canada because we're too smart and savvy, and we have the best banks in the world. The US is full of stupid entitled poor people and the government forced banks to loan to poor urban types and something something defaults and bankruptcy laws CMHC insurance. Also you people have been saying there's going to be a crash since like 07, it's 2014 and we've seen nothing but growth. And of course housing prices fell in the middle of nowhere texas, we're talking about WORLD CLASS cities like Vancouver. Prices are high because people want to live here from around the world, international demand will stem off any sort of crash. Also developers are smart, why would they keep building if there's going to be a crash? It's funny it's a bit like climate change. Come winter idiots are all "lol what global warming" except now it's "If our real estate market is hosed then why are there all these construction cranes???". Oh also the biggest real-estate boosters I know are all climate skeptics too.
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# ? Sep 16, 2014 21:54 |
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e: ^^^ Gettin paid almost $1K a day to not buy their farm, good deal if you can get it.Cultural Imperial posted:OK, you need to explain to me how you think an interest rate increase is going to be compelled by harper at the convenience of his election strategy. Not saying you're wrong but I admit to be naive about the boc's independence. Even in the case where the BOC is a lapdog and set the rate to what the FinMin tells them too, rates will still increase. Unless you have your mortgage on a variable rate, it isn't tied to the BOC rate, but the bond market. Harper and Co. have no more control over that than Greece, Spain, Portugal or Ireland did. ocrumsprug fucked around with this message at 22:07 on Sep 16, 2014 |
# ? Sep 16, 2014 22:05 |
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melon cat fucked around with this message at 04:14 on Mar 16, 2019 |
# ? Sep 16, 2014 22:10 |
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ocrumsprug posted:e: ^^^ Gettin paid almost $1K a day to not buy their farm, good deal if you can get it. Yes but it's the timing that's important here. A cabinet staffer could become a billionaire with that kind of information and the right short positions. Remember all the trouble rbs got into over libor rates?
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# ? Sep 16, 2014 22:11 |
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melon cat posted:I meant to make reference to tighter lending guidelines, not interest rates specifically. Fixed my original post. It's all good in da hood bruh
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# ? Sep 16, 2014 22:13 |
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There's going to be an interest rate increase... About three months after the next election of a majority government. Doesn't matter who gets elected. It's gonna happen.
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# ? Sep 16, 2014 22:53 |
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FrozenVent posted:There's going to be an interest rate increase... About three months after the next election of a majority government. So throw us a bone here. How and why?
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# ? Sep 16, 2014 23:27 |
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4 years to swallow the pain and fix poo poo before the next election
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# ? Sep 16, 2014 23:28 |
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Who ever raises the rates will be blamed for the economic collapse, so they'll wait until the collapse is already here THEN raise rates.
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# ? Sep 16, 2014 23:58 |
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melon cat posted:something tells me that It does seem to me like they've been trying to pull out all the stops in order to push the reckoning beyond October 2015. If the Conservatives win a majority and then the housing market tanks, they've got four years to try to make the electorate forget about it. If the Liberals form the next government, then the value of your house went down and/or you lost your job because of a drama teacher who's in over his head, and the Tories will push that li Of course, if they see the housing market, Mike Duffy, and Terri-Jean Bedford forming ever darker clouds on the horizon, there's nothing to stop them from pulling the plug next spring if they think their poll numbers are only going to get worse.
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# ? Sep 17, 2014 00:00 |
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That boc speech made by Poloz today explains in great detail how and when interest rates are manipulated. Poloz is clear, short term rates are used to target inflation. So what are you guys taking about and when in history has a central bank governor ever changed lending rates at the behest of a finance minister without cratering the economy?
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# ? Sep 17, 2014 00:07 |
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Cultural Imperial posted:That boc speech made by Poloz today explains in great detail how and when interest rates are manipulated. Poloz is clear, short term rates are used to target inflation. On the scale of conspiracy theories, thinking the government dictates the rate is pretty believable. While I don't find succor thinking anyone is actually driving the train, it would be comforting to know that someone has a plan for a long term low inflation, zero interest rate world. ocrumsprug fucked around with this message at 00:42 on Sep 17, 2014 |
# ? Sep 17, 2014 00:37 |
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This somewhat-old article in The Chronicle Herald is alleged to have been written by an independent seller, but given they just let the owner of an oil company write editorials criticising the province for banning fracking under her regular column without stating her interests I really doubt it. This has to be a developer. Otherwise we're all hosed. He basically believes that the Halifax housing market hasn't slowed down due to the simple fact that we have some of the worst wages and taxes in Canada but because of negativity about the housing market. He thinks "free market principles" should be allowed to reign in the housing market... and then calls for a government subsidy for purchasing houses (a writeoff of closing costs). He believes these same free market principles mean that, if there is an oversupply of houses, prices will lower but eventually demand will increase such that all the extra houses will be bought.
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# ? Sep 17, 2014 01:22 |
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peter banana posted:This farm's down $36,000 in the last 40 days. Its only 51 aches, not really big enough to work. Its more of someone's summer estate.
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# ? Sep 17, 2014 01:30 |
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From the article: quote:Another problem that creates unease about the housing market is national media reports about the “overvalued Canadian housing market.” These same stories then talk entirely about Toronto, Vancouver and sometimes Calgary. Why do these articles choose to ignore important markets including Halifax, Fredericton, Quebec City, etc.? quote:The real estate market is like a series of falling dominoes. Each time a house or condo is sold, it causes a domino effect because the seller now becomes a buyer of the next house and so on. To help get the market started, it will be important for provincial government efforts be focused on incentives that are fiscally neutral and targeted at helping first-time home buyers purchase affordable homes in a financially responsible manner. One idea: to allow a tax write-off of closing costs (in the same way Ottawa allows the write-off of moving costs). Holy loving poo poo what the gently caress in gently caress
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# ? Sep 17, 2014 02:13 |
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Was just wandering around Kensington Market/Chinatown in Toronto today...
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# ? Sep 17, 2014 02:59 |
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Isentropy posted:This somewhat-old article in The Chronicle Herald is alleged to have been written by an independent seller, but given they just let the owner of an oil company write editorials criticising the province for banning fracking under her regular column without stating her interests I really doubt it. This has to be a developer. Otherwise we're all hosed. It would probably be awesome if the government got out of mortgages entirely.
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# ? Sep 17, 2014 03:14 |
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http://blogs.theprovince.com/2014/09/15/editorial-politicians-shouldnt-meddle-with-the-housing-market/quote:Meena Wong, the mayoral candidate for Vancouver’s leftist Coalition of Progressive Electors, has virtually zero chance of becoming the city’s next mayor and it’s just as well, given her and her party’s naive, discredited and destructive economic views. Let's free it up even more by eliminating the CMHC.
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# ? Sep 17, 2014 03:55 |
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https://www.bloomberg.com/news/2014-09-16/chinese-developer-buys-first-canadian-condo-tower-amid-boom.htmlquote:
At this point I think it's safe to say the chinese are unequivocally the dumbest global investors in the world.
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# ? Sep 17, 2014 04:43 |
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Not necessarily... Since Greenland Holdings is owned by the CPC, this could conceivably be a very elaborate sting operation to roll some heads back home for offshoring cash, assuming the development is high priced enough to attract the chinese money laundering clientele. Probably just wishful thinking on my part and they actually are that stupid, though.
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# ? Sep 17, 2014 06:40 |
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Stupidity is more often the cause than malice.
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# ? Sep 17, 2014 06:49 |
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Isentropy posted:This somewhat-old article in The Chronicle Herald is alleged to have been written by an independent seller, but given they just let the owner of an oil company write editorials criticising the province for banning fracking under her regular column without stating her interests I really doubt it. This has to be a developer. Otherwise we're all hosed. quote:Another problem that creates unease about the housing market is national media reports about the “overvalued Canadian housing market.” These same stories then talk entirely about Toronto, Vancouver and sometimes Calgary. Why do these articles choose to ignore important markets including Halifax, Fredericton, Quebec City, etc.? I still maintain that however screwed Toronto and Vancouver are, smaller markets (like the distant suburbs surrounding Toronto and Vancouver, and places like Halifax and Fredericton) will take it even harder.
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# ? Sep 17, 2014 10:22 |
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Hi again Canada, something else from Australia: https://www.youtube.com/watch?v=m4Kbw2HuSLU Buy now or be locked out forever! Destroy your peers and prove your worth in the bidding war arena! Our mortgage experts can help you Also I'm trying to find the table that summarises this, but basically all of our big banks are hilariously over-exposed to residential mortgages, and Westpac is the worst of the lot.
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# ? Sep 17, 2014 10:39 |
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Mola Yam posted:Hi again Canada, something else from Australia: Haha that's one of the dumbest commercials that I've ever seen. "Who is willing to pay more?", aka "Who is willing to bury themselves the deepest in sand?", the Game!
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# ? Sep 17, 2014 11:13 |
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# ? May 21, 2024 16:37 |
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Mola Yam posted:Hi again Canada, something else from Australia: Jesus Christ
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# ? Sep 17, 2014 12:36 |